Jubilee to Excercise Option

Jubilee Platinum PLC
01 September 2003


                                                            JUBILEE PLATINUM plc
                                                               37 Thurloe Street
                                                                  London SW7 2LQ
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1 September 2003



                              Jubilee Platinum plc


     Jubilee Platinum elects to exercise option to JV with Golden Prospect
                        on York Project in  Sierra Leone


Jubilee Platinum plc ('Jubilee'), the AIM quoted platinum exploration company,
has completed its due diligence on the York platinum group metal ('PGM') project
('York Project') in Sierra Leone and the Yubdo, Tulu-Dimtu and Daleti properties
in Ethiopia ('Ethiopia project').



Having completed its due diligence, Jubilee has elected to exercise its option
to enter into JV with Golden Prospect (AIM: GOL) on the York Project, which it
believes to be highly prospective.  On exercising the option, Jubilee will have
an 80% interest in the JV and will be responsible for all funding to production
of bankable feasibility study.  However, Jubilee has chosen not to exercise the
option with respect to the Ethiopia Project.



The 105 square kilometre York licence is located off a main road, 37 kilometres
south from Sierra Leone's capital Freetown and covers the central section of the
Freetown Layered Gabbro, a 6 kilometre thick layered ultrabasic rock complex
with structural similarities to the well known PGM bearing Bushveld Complex in
South Africa.



Within the complex, previous exploration has identified an anomalous PGM bearing
reef-like horizon zone some 5.2 kilometres long and 2 metres wide.  The horizon
is open ended with topographic evidence that it extends to at least 8.5
kilometres.  Rock and soil samples from weathered bedrock, assayed up to 0.84
grams platinum per ton, with lower 0.12 grams palladium per ton and 0.25 grams
gold per ton.  The rocks are enriched in nickel, cobalt, chromium and vanadium,
consistent with a primary origin in layered gabbros.



The Freetown Peninsula region has a long history of artisanal alluvial workings,
having produced 5,242 ounces of platinum between 1929 and 1941, with the York
area being the major producer.  The Freetown layered complex is one of the
largest PGM bearing ultrabasic complexes outside of the South African Bushveld.



Ends



For further information please contact:


Colin Bird                                  Justine Howarth / Cathy Malins
Jubilee Platinum plc                        Parkgreen Communications Ltd
Tel [phone]                           Tel [phone]




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